City Moves | Who’s switching Jobs September 24, 2012 Winston & Strawn Michael Madden has been appointed to the role of managing partner in the law firm’s London office. He replaces Thomas Benz. Madden currently leads Winston & Strawn’s commercial litigation presence in London, and he has particular experience in corporate acquisitions and divestitures. Deloitte David Hodgson has been appointed as a healthcare and life [...]
US stocks drop as Caterpillar slows the Dow September 24, 2012 US stocks edged lower yesterday as a disappointing forecast from Caterpillar and weak German data increased concerns that global growth may remain sluggish. Just before the close, Caterpillar cut its earnings forecast for 2015. Its shares fell 0.9 per cent to $90.87 and were the top drag on the Dow. An index of German business [...]
FTSE dips on poor European data and weakness in price of copper September 24, 2012 BRITAIN’S top share index fell yesterday, led by miners, as dull European data kept the focus on a gloomy economic outlook, tempering the boost given to markets by recent central bank stimulus moves in Europe and the United States. Germany’s Ifo index of business sentiment fell for a fifth month running, bucking expectations for a [...]
Best of the Brokers September 24, 2012 GAMES WORKSHOP Peel Hunt yesterday reiterated its “buy” recommendation for Games Workshop and raised its target price for the company from 700p to 750p. The broker said following the group’s annual general meeting held last week “it was particularly clear” that the substantial changes over the last few years have resulted in a much stronger [...]
The ideas emerging from Lib Dem conference dissolve under scrutiny September 24, 2012 SOMETIMES, it’s hard not to feel rather sorry for the Liberal Democrats. After the public relations disaster of Nick Clegg’s toe-curling apology on tuition fees last week, the party faithful have gathered in Brighton only to be battered by violent storms. The Lib Dem leadership was hoping to pilot a course to sunnier political climes [...]
Frustrating UK tax quirks can easily mean missed mortgage payments September 24, 2012 WHEN HMRC wrongly changed my tax code last October, I was paying 40 per cent of my total income as tax for six months. It had a huge impact on my finances – my take home pay went below my mortgage costs. And HMRC couldn’t correct it, despite admitting its error. In the end I [...]
Ten golden rules of investing September 24, 2012 Some industries produce more economic profit than others. How much economic profit a sector or industry tends to produce is often a function of how difficult it is to enter. High entry barriers can therefore provide a sustainable competitive advantage for incumbents. Take banking. Unlike retailing or steel manufacturing, there are all sorts of obstacles [...]
After German business confidence fell for the fifth month, is the euro crisis about to return? September 24, 2012 YES Ferdinand Fichtner The Eurozone is already in the middle of a recession. Production has declined since the summer of 2011 and unemployment rates are increasing in almost all euro members. In the last quarter, Germany was the only country that had a relatively solid growth record. But, looking forward, the picture remains gloomy. Growth [...]
Rapid Responses September 24, 2012 Shale gas potential [Re: Britain needs to embrace the global shale gas revolution, Friday] Allister Heath is right that shale gas has had a huge impact on the US energy sector, with a resultant impact on the economy. However, he fails to stress the adverse environmental impact of certain hydraulic fracturing or “fracking”. The Royal [...]
Hesitant Spain is afraid to pull bailout trigger September 24, 2012 HOW quickly sentiment can change. Last week, traders were triumphantly jubilant after central banks poured liquidity into markets. If price reflects all known information, you would have thought that the world’s financial ills were cured. This week, the focus is back on growth, or to be more specific the lack of it. Although Spain’s Ibex [...]
